myFICO Review: Credit Monitoring Features and Costs

myFICO is a top-notch option for those looking for comprehensive three-bureau credit monitoring. It even offers fun graphics to help you track your credit journey.

The credit scoring model that most financial institutions use when deciding whether to approve you for a loan is called FICO. So why wouldn't you want a credit monitoring service offered directly from this same company?

In fact, myFICO offers an excellent credit monitoring program. Not only does it offer multi-bureau monitoring, but it comes with some extracurricular perks that you may not expect, namely, a catalog of identity theft prevention measures.

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Key Takeaways

• myFICO shows your real FICO scores from Equifax, Experian and TransUnion, which is the scoring model most lenders actually use when reviewing loan applications. Competitors like LifeLock, Aura and IdentityForce rely on VantageScore instead.

• Plans range from free to $39.95 per month, with paid tiers adding three-bureau monitoring, mortgage and auto loan scores, identity restoration and up to $1 million in identity theft insurance.

• Choose myFICO if you want the exact score lenders see before applying for a loan. Skip it if VantageScore tracking and faster alerts matter more to you.

Summary generated by AI, verified by MoneyLion editors

How myFICO Works

myFICO delivers your authentic FICO scores from multiple bureaus, depending on the plan you select, to show you precisely what lenders see when they perform a hard inquiry on your credit profile. This makes it easy to quickly compare and check credit reports to sniff out any fraud or errors with your credit.

You don't have to do it all yourself, though. myFICO will monitor your credit for things like new accounts, negative marks — late payments, for example, new inquiries, score changes, etc.

That's not all myFICO monitors. It also watches over your identity by leafing through thousands of websites and internet data based — even chat rooms — to detect any possible threats. This ensures your personal information isn't for sale. And if you happen to fall victim to identity theft, myFICO offers identity theft restoration and up to $1 million in identity theft insurance.

myFICO Features

Advanced Credit Score Monitoring: myFICO is a high-powered credit monitoring service — with a few identity theft features to boot.

Cost: $0 up to $39.95 per month

Credit Reports: Experian, TransUnion and Equifax

Credit Monitoring Features: Inquiries, new accounts, late payments, change of address

Pros

• Authentic FICO credit score

• Credit monitoring alerts

• Identity theft insurance

Cons

• Plans are pricey

• Lackluster identity protection

Why We Like It: myFICO's three-bureau credit monitoring is the best in the business for staying up to speed on true FICO credit scores from all three credit bureaus. If you want to know what lenders will see when they run your credit, myFICO is the single best option.

Credit Monitoring Features

While myFICO has its share of identity protection features, including identity monitoring and identity restoration, its bread and butter is credit monitoring.

Free Plan

The Free plan from myFICO comes with:

• Equifax FICO scores, which are updated monthly

• Credit reports

• Score alerts

• Monitored transactions

You'll also get up to $1 million in identity theft insurance.

Advanced Plan

The Advanced plan costs $29.95 per month. Opt for this, and you'll get all the benefits of the free version, plus the following:

• FICO scores for Experian, Equifax and TransUnion — updated every three months

• Special scores for mortgages and auto loans

Premier Plan

The most premium myFICO membership is called the Premier plan. It comes with everything from the Advanced plan. However, the big difference is that its three-bureau FICO credit scores are updated monthly instead of quarterly.

That may sound expensive compared to other services that offer credit monitoring, but again — myFICO gives you your true FICO score. Competitors typically use VantageScore, which is a good way to get an idea of your score, but it's not the scoring model that most lenders use. That's a massive advantage.

It's also worth noting that myFICO allows you to buy a one-time credit report at any time.

• Single bureau report: $19.95 — you can choose which credit bureau you'd like.

• Three-bureau credit report: $59.85

myFICO rolls credit score tracking, monitoring, and identity theft prevention and restoration into one package to help you stay informed and protect your financial health.

Pros

• Monitor Experian, Equifax and TransUnion scores

• Receive scores for mortgages and auto loans

• Up to $1 million in identity theft insurance

Cons

• Alerts may not be as instant as other services

• The Premier plan with the most features available, costs $39.95 per month

Why We Like It: myFICO is beautiful and intuitive to use, breaking down your credit journey into a very digestible layout.

User Experience

In terms of user experience, the myFICO app scores well with 4.4 stars on the Google Play Store and 4.8 stars on the Apple App store. The app has more than 50,000 reviews between both platforms.

That said, when it comes to user reviews on ConsumerAffairs, myFICO receives a less-than-impressive one out of five stars. Reviews complain about customer service, pointing out that it's unnecessarily difficult to cancel your subscription and that refunds are hard to come by. The site also has some positive reviews, singing the praises of the multiple FICO credit scores you can monitor simultaneously, and the convenience of being alerted to potential fraud.

myFICO vs. Competitor Options

myFICO vs. LifeLock

LifeLock is primarily in the business of identity theft — think dark web monitoring and social media monitoring. But it also comes with some credit monitoring features, such as three-bureau credit monitoring with the more premium options. Note that it uses VantageScore instead of a true FICO score.

myFICO vs. Aura

Aura differs from myFICO in that it focuses primarily on digital security — from antivirus protection to VPN to data breach monitoring. Aura also dabbles in credit monitoring, offering three-bureau monitoring and the ability to instantly lock your Experian credit file. Again, Aura uses VantageScore.

myFICO vs. Identity Force

The credit bureau, TransUnion, offers IdentityForce and is an identity monitoring service. It scours the internet for your sensitive information to deliver an identity safety score and personalized action plan. You can also receive three-bureau credit monitoring alerts and quarterly reports. VantageScore is the model used.

Final Take

myFICO is best for those who want the best idea of what a lender is looking at when considering you for a loan. It's also ideal for those that want monthly updates from all three credit bureaus — and are willing to pay for it.

FAQs

How does myFICO work?

myFICO works by using its proprietary data to reveal your accurate FICO credit score up to once per month. It also gives you different alerts for both credit and identity monitoring.

Is myFICO safe to use?

If you're wondering, "Is myFICO safe," know it's as safe as you can expect a major financial company to be. Nothing is impenetrable. But myFICO doesn't sell your data, and it implements authentication measures to ensure its customers' data is protected.

Does myFICO include identity theft insurance?

Yes, myFICO includes up to $1 million in identity theft insurance.

What features are included in myFICO plans?

Depending on the plan you purchase, myFICO includes features such as three-bureau credit monitoring, scores for mortgages and auto loans, identity restoration and identity theft insurance.

Is myFICO worth the cost?

The question of whether myFICO is worth the cost depends entirely on your finances and the value you place on knowing your true FICO credit score. Because myFICO is virtually the only option that displays the exact number lenders see, it may well be worth the money for your needs.

How quickly does myFICO detect and alert users to changes or threats?

myFICO says it monitors data once per day — and never on Sunday for TransUnion. This could prove slower than competitors who alert you as quickly as possible when an eligible change occurs.

Key Terms

• FICO score

  : A credit score created by FICO that many lenders use to judge how risky it may be to lend you money.

• VantageScore

  : A credit score model from the three major credit bureaus that many free credit tools show, but some lenders may use a different score.

• Credit monitoring

  : A service that tracks changes to your credit reports and alerts you to things like new accounts, inquiries or missed payments.

• Hard inquiry

  : A credit check a lender runs when you apply for credit. It appears on your report and can slightly lower your score for a short time.

• Identity theft insurance

  : Coverage that may repay certain costs tied to identity theft, such as lost wages, legal fees or fraud recovery expenses.

Sources:

• myFICO: What Is a FICO Score and How Is It Calculated?

• Equifax: What is VantageScore?

• Consumer Financial Protection Bureau: What is a hard inquiry on my credit report?

• Federal Trade Commission: Identity Theft Insurance

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

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